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513 West Street, 
Madison, IN 47250

$1,375,000


10

Beds


8

Baths


5,508

Sq Ft


Single Family

Active

Listed by

Jim Pruett

eXp Realty

Last updated:

May 20, 2026, 03:05 PM

MLS#

207202

Source:

IN SEIBR

About This Home

513 West Street

Own a Piece of Historic Downtown Madison Discover a rare investment opportunity in the heart of downtown Madison. This versatile corner lot property features four beautifully maintained Airbnb units, offering both charm and strong income potential. The thoughtfully designed layout includes: Main Floor: Two spacious 2 bedroom, 1.5 bath units Upper Level: Two expansive 3 bedroom, 2 bath units Currently operating as a successful short-term rental, this property delivers excellent returns and comes as a true turnkey investment complete with future bookings and all furnishings included, allowing for a seamless transition. Endless Possibilities: Continue as a high performing Airbnb, Multi generational living setup, convert to condo-style rentals, Owner occupy one unit while renting the others. Recent Updates Include: complete rehab, all systems new. Perfectly positioned in a highly walkable downtown location, you're just steps from local boutiques, dining, and the scenic Ohio River.

Home Facts

Single Family

8 Baths

10 Bedrooms

Built in 1840

Price Summary

1,375,000

$249 per Sq. Ft.

MLS #:

207202

Last Updated:

May 20, 2026, 03:05 PM

Added:

a month ago


Rooms & Interior

Bedrooms

Total Bedrooms:

10

Bathrooms

Total Bathrooms:

8

Full Bathrooms:

6

Interior

Living Area:

5,508 Sq. Ft.


Structure

Structure

Architectural Style:

Historical

Building Area:

5,508 Sq. Ft.

Year Built:

1840


Lot

Lot Size (Sq. Ft):

22,216


Finances & Disclosures

Finances

Price:

$1,375,000

Price per Sq. Ft:

$249 per Sq. Ft.

Source:IN SEIBR
Information provided in part by SE Indiana MLS. Information deemed reliable but not guaranteed accurate by the MLS. Information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.